165.211. Depositaries, how selected, when--bids received when--notice to be published. - Missouri Statutes

Depositaries, how selected, when--bids received when--notice to bepublished.

165.211. In all seven-director districts, the school board shallselect depositaries of the moneys and funds of the school district.Depositaries may be selected annually or the school district and depositarymay enter into a one- to five-year contract or agreement for the deposit ofthe district's moneys or funds at the discretion of the local board ofeducation. Such contract or agreement may be terminated by the mutualconsent of both parties at any time. The school board, in each year inwhich depositaries are to be selected, shall receive sealed proposals frombanking institutions in the county or in adjoining counties which desire tobe selected as depositaries of the moneys and funds of the school district.Notice that bids will be received shall be published by the secretary ofthe board at least twenty days before the date selected by the school boardfor the acceptance of bids in some newspaper published in the county atleast five days in each week, or if there is none, then in a newspaper ofgeneral circulation within the county.

(L. 1963 p. 200 § 6-21, A.L. 1980 S.B. 733, A.L. 1992 S.B. 581, A.L. 1998 H.B. 955)

(Source: RSMo 1959 § 165.417)